Technician
Long

AUDUSD: Intraday Long at Range Support

FX:AUDUSD   Australian Dollar / U.S. Dollar
1406 views
15
1406 15
Update: Targets reached without triggering entry... Trade cancelled.
------------------------------------------------------------------------------------------------
A very simple trade, I am going to long the pair if i see another dip lower, with a tight stop just below the support of the sideways range. (In this specific trade i will not cancel the trade if we reach first target before triggering entry, as its very close to current price, i will only cancel the trade if price reaches near the second target without triggering entry).

Join me at https://twitter.com/thefxchannel
Also at my Facebook page http://www.thefxchannel.com
My best regards,
Technician

==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game
Update: Targets reached without triggering entry... Trade cancelled.
Reply
Missed this trade
Reply
90% of 2nd target reached without entry.
Reply
The interesting chart is the daily. I think we are close to a big reversal. No confirmation yet
Reply
IvanLabrie vlad.adrian
Seems like we all agree...nice long hit here. I'm waiting for the big move down. Gonna take a while.
Reply
A return to the mean strategy...I dig.
Reply
IvanLabrie IvanLabrie
0.8744-0.8782 should be fairly easy in a day. Daily 11 period ATR is 94 pips.
Reply
Technician IvanLabrie
Unless it breaks down and resume bearish trend , lets hope its not the case
Reply
IvanLabrie Technician
I give it a week...look at that consolidation, I'll enter short on a clean break below and completely outside on the daily, and the weekly close without retesting that line or its whereabouts. :) Some bullish news they say too...
Reply
IvanLabrie IvanLabrie
Looks pretty bearish if it confirms...
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out